JSW Steel finalises Welspun Steel division acquisition for Rs 848 cr

05 Apr 2021 Editorial Team

JSW Steel has entered an agreement with Laptev Finance to acquire Welspun Group's high-grade steel plates and coil division—Welspun Steel Ltd for Rs 848 crore.

In 2019, Welspun Group had assigned the sale of its steel division to Laptev Finance. As a part of the deal, JSW will also buy out a land parcel attached to the plates and coil mills division for Rs 1.50 crore.

JSW Steel signed the deal with Laptev to acquire Welspun plates and coil business as a going concern on a slump sale basis for Rs 848 crore, subject to closing adjustments towards net working capital.

The consideration amounts will be paid on a deferred basis, subject to Welspun fulfilling certain regulatory approvals and payment milestones as provided under the Business Transfer Agreement, JSW Steel said in a statement.

The steel major has started production of an additional 5 million tonne per annum (mtpa) steel at its Dolvi plant in Maharashtra. The expansion at Dolvi has increased the company's steelmaking capacity to 23 million tonne per year.

JSW has invested Rs 15,000 crore in doubling the capacity along with a 1.5 mtpa coke oven plant. The supporting facilities are to be commissioned progressively in the coming days.

The expansion at Dolvi was to be completed in September 2020 but was delayed due to the Covid-19 pandemic. Non-availability of required manpower and material due to the lockdown announced by the government on the back of the pandemic and its subsequent extensions had hit the execution of the project. Further, the non-availability of foreign experts from technology and equipment suppliers due to international travel restrictions also impacted the commissioning schedule of the Dolvi project.

Image Source

Also read: JSW Steel completes Bhushan Power and Steel acquisition

Technology

28 Oct 2025

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..